ENTREPRENEURSHIP

Detailed explanation-1: -A layoff describes the act of an employer suspending or terminating a worker, either temporarily or permanently, for reasons other than an employee’s actual performance. Downsizing is the permanent reduction of a company’s labor force by removing unproductive workers or divisions.

Detailed explanation-2: -Layoff / Laid off and Retrenchment-Definitions-Rule Position-Differences. Layoffs and Laid off are the nomenclatures that convey the same meaning that is temporary refusal by an employer to give employment to an employee who is already employed.

Detailed explanation-3: -Downsizing is the process of terminating multiple employees at the same time. There are three major reasons that organizations conduct downsizing: Cost reduction. Adoption of new technologies that reduce the need for a large number of employee.

Detailed explanation-4: -Cost reduction. Improved efficiency. Increased profits by reducing overhead. Technological advancements. A recession. Industry decline. Mergers and acquisitions. A national disaster or crisis. More items •20-Sept-2022